I remember those days when we hardly had the sign in the yard, if at all, and already there were multiple offers on a home. Ahhhh....
I also remember those days when we had the sign in the yard for days, weeks, months, even years(!) and there weren't any offers on the house. Gulp....
The experts tell us it will be a few years for the housing market to make a full recovery, and I would say I agree with them. But I would also say I sure am getting a kick out of watching things improve, slowly though it is.
Several weeks ago I listed a home in the town of Cedarburg, and within a day of being on the market, we had multiple offers on it. Over the past few days, I received word of multiple buyers having a strong interest in another listing that's been on the market for nearly five months.
In recent weeks, I've had buyers (unfortunately) miss out on homes they had been thinking about because another buyer came along and wrote an offer. It seems like "sitting on the fence" may not be a very good strategy right now, even with those homes that have been on the market for a long time.
Buyers are out there, and they are ready to buy. They understand that with the low interest rates we have right now, their overall cost of owning a home will be less. They understand that the prices on homes are competitive and offer a great bargain. They understand that they may find themselves in a price war with another buyer if they aren't proactive now.
Thinking about buying a house? Don't get too comfortable on that fence.
That fence gets pretty uncomfortable when someone else nabs your prefect home. Still loving these interest rates and those with the ability to buy need to find a GREAT agent and JUMP in while the water is nice and warm.
Laura -- yes, that fence can get uncomfortable. :) I really think buyers are starting to understand this is the time to buy and they can't wait around any longer. Thanks for stopping by!
It's like this unspoken rule in real estate that as soon as one buyer wants to make an offer, so does another. I think it's because first-time home buyers seem to have the same types of requirements and they recognize a good home / buy when they see it. But then so does everybody else. Of course, they never believe you that this can happen and they tend to think it's a conspiracy.
Peggy, I do agree the buyers are out there and a good condition home, priced right will attract them. Good luck to you in your area of Wisconsin. I hope you are doing well!!!